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Can Background Noise make all our card transactions secure? Or is it just Sci-fi

The Total Fraud loss in global payments was $11.2 Bn in 2012 up 14.6% from 2011 according to Nilson Report. Credit and Debit card frauds are increasing at an alarming rate. Nitesh Saxena, a professor of computer science at the University of Alabama, is working on a system that would verify payments by utilizing short sound recordings from within a store.

With this system, both the stores’ own terminal as well as the user’s NFC-enabled device would separately send sound clips of the backgro ...

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